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Discontinued operations relates to properties (Tables)

9 Months Ended

Sep. 30, 2013

The following table summarizes revenue and expense information for the properties sold and held for sale (dollars in thousands):

	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	2013			2012			2013			2012
Revenue
Rental and other property revenues	$	(8	)	$	2,412		$	3,760		$	10,840
Other income		-			(1,126	)		20			(187	)
		(8	)		1,286			3,780			10,653
Expenses
Property operating expenses		154			1,946			1,913			7,438
Interest expense		4			(256	)		892			1,719
Loan cost amortization		-			5			4			19
Loan fee expense		-			-			-			849
General and administrative		232			250			668			801
Depreciation and amortization		-			462			512			1,809
Earnings from unconsolidated investees		-			47			-			-
		390			2,454			3,989			12,635
Loss from discontinued operations before gains on sale of real estate, taxes, and fees		(398	)		(1,168	)		(209	)		(1,982	)
Gain on sale of discontinued operations		127			585			25,429			8,840
Income (loss) from discontinued operations		(271	)		(583	)		25,220			6,858
Income tax benefit (expense)		95			204			(8,827	)		(2,400	)
Net income (loss) from discontinued operations	$	(176	)	$	(379	)	$	16,393		$	4,458